Over 300 individuals rally at Austurvöllur in Reykjavík demanding action against rising interest rates and inflation

A significant gathering took place on Austurvöllur today, where over 300 individuals rallied to demand action against rising interest rates and inflation that they believe are severely impacting households and children’s futures. The event was organized by several trade unions, including ASÍ, BSRB, and the Icelandic Teachers’ Association, coinciding with a session of the Althing, Iceland’s parliament.

Magnús Þór Jónsson, the chair of the Teachers’ Association, emphasized the urgent need to protect household interests. He expressed that the economic challenges posed by high interest rates and inflation are causing distress among families, adversely affecting children and the educational system. He called for the government to heed the protestors’ demands and take decisive action on inflation and housing issues, framing their message as a plea for recognition and urgency.

Several demonstrators voiced their concerns about the economic situation, highlighting that many people in the country are struggling to manage increasing payments. One protestor, Jón Þ. Guðmundsson, criticized the government’s inaction, stating that it was essential to protest the persistent rise in interest rates.

Reynir Olgeirsson shared that while he personally does not feel the financial strain, he worries about the impact on his children. He expressed skepticism that significant changes would occur before the next elections.

Another participant, Bergrún Mist Jóhannesdóttir, argued for a reduction in interest rates, sharing her expectation that the effects would become apparent when her mortgage interest terms expire. She remains hopeful that the protests will yield some tangible results.

The overarching sentiment at the rally was one of urgency and a desire for the government to prioritize the welfare of households amid economic turmoil.